Stock markets are volatile. And it is important to follow the right queues. One bad and uninformed move can cost you a great fortune. So always make it a point to use the right tools in order to make money.
Thanks to technology, there are a lot of tools available in the market which you can use, and most of them are available for free.
- Charting Software: If you are a day trader, then you really need good charting software that caters to numerous markets – especially the key national indices like national ones like BSE, NSE etc. Charting helps you understand trends and make a trading decision based on that.
- Books: Getting security analysis by Benjamin graham on your kindle might just be the best thing that you would ever do. Ben is one of the greatest investors ever known and was Warren Buffet’s mentor. Stack up some good books and take time off during the weekend to understand strategies that they deployed to make money.
- Newspapers: Subscribe to a few. For international financial news, the Wall Street Journal and Financial times would do. Most of them have e-version and allow users to read a certain number of articles for free. It is something that can greatly strengthen your knowledge and if you carefully use it in conjunction with the charting software, you might be able to find a correlation between the two.
- Mobile apps: it is the smartest tool where all the action is. If you get hooked onto the right app, you would get the best of everything. For instance, an app called IIFL Markets, by India Infoline, has got live videos, a wealth of information and key reports – all for free. Moreover, they even allow the investors to trade on the go. So if you are ever stuck while commuting then just use your app and you are done. No more calling your brokers or getting onto discussions with your advisors. The app will arm you with high-quality content and would put up newspaper, charting and just about everything that a savvy investor like you would need for trading.
Apps can be highly customized, that enables users to feed a lot of different trigger variables like news, stock rate alert and so on. And this all has made the life of an investor easier and more streamlined. And over 80% of user approval vindicates the same.
Apps are making powerful headways to our lives and there is no reason why an investor should keep away from it. Apps can be downloaded and used for free of cost. It is advisable to use them for a week or so, to really understand how indispensable it is to your trading life.
With good knowledge and quick resources, you would do well in the stock markets. And it is the time that you explore these four resources to make more money in the stock markets.